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Makers of e-cigarettes NJOY has announced that it has secured $75m of new funding and can now count notable tech investor Sean Parker among its backers.
The company announced the funding, which will be used for marketing, clinical trials, research and development, and international expansion, on Monday.
“As an entrepreneur and investor I’m drawn to disruptive companies in explosive new markets,” Parker said. “The common thread between these companies is a missionary desire to leverage technology to change the world. I’m optimistic that the clever application of technology might someday obsolete the combustion cigarette and all the harm it causes.”
Parker, the co-founder of Napster and first named president of Facebook, is no stranger to tech investment and has played a role in the formation and growth of several companies, including Causes which promotes online philanthropy, and the online music streaming service Spotify, which continues to count him as a director to this day.